As much as I love to ramp MCO, I get annoyed when people highlight the price of gold as being over US$1500.
The MCO gold mine is in Australia, not the USA, and the relevant price is what we can get for our gold in Aussi dollars, not Yankee dollars.
As the Yankee dollar continues to go down the gurgler due to their economic incompetence, it takes more of their dollars to buy an ounce of gold. Todays exchange rate of 1.0745 reflects the fall in the Yankee dollar when compared to the Aussi dollar.
On 1/12/2001 when the price of gold was only US$1391 in Yankee dollars, it was a whopping A$1448.20 in Aussi dollars.
Today as the Yankee dollar hit US$1507.60, the POG in Aussie dollars has fallen to A$1403.07 per ounce.
ann out, page-26
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